Crowdfunding platform set to host what is believed to be first ICO for a building

The initial coin offering (ICO) sector has thrown a huge amount of innovation into the public eye. There are so many exciting projects that have held their own token sales that otherwise may have never seen the light of day.

The initial coin offering (ICO) sector has thrown a huge amount of innovation into the public eye. There are so many exciting projects that have held their own token sales that otherwise may have never seen the light of day.

Venture capital firms would not have gone near many of these ICOs in the past, but now they have a legitimate method of being able to gain funds. There are also more traditional ideas that have had new life injected into them as a result of ICOs. For example, what is believed to be the very first ICO for a building is set to take place shortly, being hosted on a specialised crowdfunding platform.

What are the details about this new ICO?

One of the areas that have held a lot of promise is having real estate assets being offered through ICOs. Now it looks like this idea is now set to become a reality. It has been announced by the St. Regis Hotel, which is worth $200 million and located in Aspen, Colorado that they are going to be using the Indiegogo crowdfunding platform in order to sell tokens to investors that are accredited.

This offering is set to take place in September and has become a viable option for the project after an IPO for the same property did not end up on materialising. This is a very interesting project and has been an idea that has been talked about in the sector for some time.

There is the fact that the tokenization of real estate is deemed by the Securities and Exchange Commission (SEC) in the United States to be a security. Therefore, it will have to rely on securities laws when it comes to compliance.

If this proves to be a success, it could be the perfect case study which sees the floodgates being opened when it comes to real estate assets being available in token form. The process of REITs and the likes can be a cumbersome and often inefficient one, so tokenization would resolve a lot of the common issues associated with the sector.

It is certain that everyone in the ICO and property investment space are going to be keeping a close eye upon in the coming months.

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About Us

We are fast becoming the authority hub for all ICO, Crypto and Blockchain news. Our mission is to help and bring accurate and transparent educational content on blockchain, crypto assets and ICO's to fellow crypto enthusiasts.